We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 08 October 14
OIL COULD FALL TO USD80 BEFORE SHALE SUPPLY RESPONSE - FITCH
 COALspot.com: Brent oil could fall as low as USD80 a barrel before triggering a self-correcting supply response with shale-oil drillers cutting investment in new wells, Fitch Ratings says.
According to Fitch, the steep rate at which production from shale wells declines mean companies have to keep drilling new wells to maintain production. We estimate median full-cycle costs for US exploration and production companies have fallen to about USD70. The marginal barrel, not the median one, balances supply and demand and determines price, so the point at which capex falls will probably be higher. Exactly where depends on expectations of future price. Anecdotally we understand that at USD90/bbl capex is likely to continue at full speed, while at USD75-80/bbl it may fall. This would have a relatively rapid impact on production, suggesting a notional price floor.
Fitch noted that, in the short term we consider a resurgence of supply disruptions and positive action from OPEC the most likely catalysts for a rebound in prices. But without these, further declines might be possible, especially if evidence grows of further weakening of global demand or increasing OPEC spare capacity.
The notional floor is well below the USD100/bbl level that many market participants thought was here to stay earlier this year. But in the last two weeks Brent crude has fallen - and stayed - significantly below USD100/bbl, and WTI crude has fallen below USD90/bbl for the first time since 2012. The difference between the two benchmarks has shrunk to around USD2.50, and forward curves also indicate weakness, Fitch noted.
The key supports for USD100+ oil were growing demand, tight OPEC spare capacity, increasing cost of supply, particularly combined with rapid depletion rates for shale wells, OPEC's desire for high oil prices, and political and security issues in key regions.
Fitch further noted, demand has been the clearest change in the short term, but is also the element that may most reliably reverse in the long term. If China and India grow as expected demand could rise by up to a third in the next 20-30 years - but this does not preclude short-term weakness.
OPEC has declared support for prices at USD100/bbl. Some members would prefer this price or higher, but we estimate Saudi Arabia, which would have to absorb the greatest production cuts, would be able to balance its budget at USD94/bbl. A lot will therefore ride on the outcome of OPEC's next meeting in November, said Fitch.
The geopolitical and security picture has not resulted in the predicted fall in production. Progress is being made on Iranian sanctions; Iraqi production has remained robust; Libyan production is starting to recover. Market sentiment suggests the effects of these situations will remain benign - but there is potential for this to reverse quite rapidly.
We do not expect rating implications from the price dip in the short term. Our corporate and sovereign ratings use price assumptions that drop over time, and companies and governments have shown themselves able to adjust spending to weaker prices if necessary. The rising US dollar, which has strengthened against the euro by around 10% since the middle of the year, is also contributing to weakness in oil prices when expressed in dollar terms, as our price decks are.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 15 October 14
SHIPOWNER NOT LIABLE FOR CARGO DAMAGE RESULTING FROM POOR STOWAGE - CLYDE & CO
KNOWLEDGE TO ELEVATE
Russian metal trading company Yuzhny Zavod Metall Profil (YZMP), the holder of a CONGEN 1994 bill of lading, took delivery o ...
Wednesday, 15 October 14
NEWCASTLE SHIPPED 13.96 MILLION TONS OF COAL IN SEPTEMBER; UP 5.72%
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1,227.7 wor ...
Tuesday, 14 October 14
KING COAL UNDER ATTACK? - EVA TZIMA
With the last quarter of the year being well underway and with no strong signs that the Dry Bulk market could be ready for a big positive reversal, ...
Tuesday, 14 October 14
THE NEW CHINESE TRANSPORTATION TAX LAW: WHAT DOES IT MEAN FOR GREEK SHIPPING? - DELOITTE
China has recently promulgated a new law which imposes tax on profits from freights of inbound routes. The objective of the new tax law titled &ldq ...
Monday, 13 October 14
CHINESE COAL IMPORT TARIFFS YET ANOTHER BLOW TO AUSTRALIAN COAL EXPORTS - TIM BUCKLEY
COALspot.com: China’s unexpected move to reintroduce thermal coal import tariffs of 6% will have a materially negative impact on the viabilit ...
|
|
|
Showing 3431 to 3435 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
|
| |
| |
|
